ABM Industries (NYSE:ABM) Lowered to "Hold" Rating by Wall Street Zen

ABM Industries (NYSE:ABM - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Separately, UBS Group dropped their price objective on ABM Industries from $56.00 to $50.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th.

ABM Industries Stock Down 0.7%

ABM traded down $0.38 during trading on Friday, hitting $52.34. 431,815 shares of the company's stock traded hands, compared to its average volume of 492,436. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 41.21, a PEG ratio of 2.75 and a beta of 0.78. The company's 50 day simple moving average is $48.94 and its two-hundred day simple moving average is $51.36. ABM Industries has a 12-month low of $40.85 and a 12-month high of $59.78. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73.

Insiders Place Their Bets

In other ABM Industries news, EVP Sean Michael Mahoney sold 574 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $50.06, for a total value of $28,734.44. Following the transaction, the executive vice president now owns 49,225 shares of the company's stock, valued at approximately $2,464,203.50. This represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott B. Salmirs sold 37,065 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $52.37, for a total value of $1,941,094.05. Following the sale, the chief executive officer now owns 369,656 shares of the company's stock, valued at approximately $19,358,884.72. This represents a 9.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,374 shares of company stock valued at $2,733,303. Company insiders own 0.90% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ABM. SBI Securities Co. Ltd. purchased a new stake in ABM Industries in the 4th quarter worth approximately $33,000. Summit Securities Group LLC bought a new position in shares of ABM Industries in the first quarter worth approximately $38,000. Federated Hermes Inc. increased its stake in shares of ABM Industries by 107.7% in the first quarter. Federated Hermes Inc. now owns 920 shares of the business services provider's stock worth $44,000 after purchasing an additional 477 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of ABM Industries during the 1st quarter valued at $45,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of ABM Industries by 193.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider's stock valued at $46,000 after buying an additional 595 shares in the last quarter. 91.62% of the stock is owned by hedge funds and other institutional investors.

ABM Industries Company Profile

ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.